diff --git a/bazel/repository.bzl b/bazel/repository.bzl
index 2abdca87ce..9ee4253d36 100644
--- a/bazel/repository.bzl
+++ b/bazel/repository.bzl
@@ -34,10 +34,10 @@ def opentelemetry_cpp_deps():
     maybe(
         http_archive,
         name = "com_github_google_benchmark",
-        sha256 = "6430e4092653380d9dc4ccb45a1e2dc9259d581f4866dc0759713126056bc1d7",
-        strip_prefix = "benchmark-1.7.1",
+        sha256 = "6bc180a57d23d4d9515519f92b0c83d61b05b5bab188961f36ac7b06b0d9e9ce",
+        strip_prefix = "benchmark-1.8.3",
         urls = [
-            "https://github.com/google/benchmark/archive/v1.7.1.tar.gz",
+            "https://github.com/google/benchmark/archive/v1.8.3.tar.gz",
         ],
     )
 
diff --git a/third_party/benchmark b/third_party/benchmark
index d572f47773..344117638c 160000
--- a/third_party/benchmark
+++ b/third_party/benchmark
@@ -1 +1 @@
-Subproject commit d572f4777349d43653b21d6c2fc63020ab326db2
+Subproject commit 344117638c8ff7e239044fd0fa7085839fc03021
diff --git a/third_party_release b/third_party_release
index 120b53ffab..af0ca775ab 100644
--- a/third_party_release
+++ b/third_party_release
@@ -15,7 +15,7 @@
 
 gRPC=v1.49.2
 abseil=20220623.1
-benchmark=v1.7.1
+benchmark=v1.8.3
 googletest=1.13.0
 ms-gsl=v3.1.0-67-g6f45293
 nlohmann-json=v3.11.2